Carat-Percept JV to offer complete media services

By , agencyfaqs! | In
Last updated : September 25, 2014 10:34
Carat International and Percept advertising have inked a JV deal to offer strategic and media planning and media buying services to Indian clients.

agencyfaqs! News Bureau
NEW DELHI, July 10
Carat International and Percept Advertising have entered into a 51:49-joint venture under which the new company, Carat, will offer strategic and media planning and media buying services.
While the company has been set up to cater to Percept and Hakuhodo Percept clients, companies seeking these services from a media independent agency - as opposed to their existing full-service agency - will also be serviced. The JV is headquartered in Mumbai, and has a total service set up in Delhi and operations offices in Bangalore and Pune.
When asked about the objective behind the JV, Jagdeep Parsram, managing director, Carat India, said, "The purpose behind the JV is to accelerate the growth of Carat's Indian operation and what the agency can offer Indian clients through its well established media capabilities."
The partners are banking on the intrinsic synergies that stem from one another's capabilities. By virtue of being a full-service agency, Percept's strengths lie in advertising, PR and event management. Carat, on the other hand, is a veteran in strategic planning, media planning and media buying. "Given these values, there are obvious benefits that can be offered to clients," Parsram points out.
While the JV has ready-made clients - courtesy Percept - it is also prospecting for business outside the Percept fold. In fact, it has already roped in Essar Cell, APC and National Cookers, among others.
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